Vulcan Materials Announces Closing Of $400 Million Note Offering

BIRMINGHAM, Ala., March 30, 2015 /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC) today announced the closing of its offering of $400 million aggregate principal amount of 4.50% unsecured notes due 2025.

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After deducting underwriting discounts and estimated offering expenses, the company intends to use the net proceeds from this offering of approximately $395 million, along with cash on hand and borrowings under its revolving credit facility to fund (i) the previously announced partial tender offer for its 7.00% notes due 2018, (ii) the previously announced redemption of its 6.40% notes due 2017 in an aggregate principal amount of approximately $219 million, (iii) the previously announced redemption of its 6.50% notes due 2016 in an aggregate principal amount of approximately $125 million, and (iv) the planned redemption of its 8.85% notes due 2021 in an aggregate principal amount of $6 million and the planned prepayment of its floating rate notes due 2022 in an aggregate principal amount of $14 million.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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SOURCE Vulcan Materials Company

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